In hot pants topless lady dresses (2,4)
I believe the answer is:
at home
'in' is the definition.
(someone at home is 'in')
'hot pants topless lady dresses' is the wordplay.
'pants' indicates an anagram (UK informal term for 'nonsense' or 'rubbish').
'topless' means to remove the first letter.
'lady' becomes 'dame' (synonyms).
'dresses' means one lot of letters goes inside another (dress can mean cover).
'dame' with its first letter taken off is 'ame'.
'hot' with letters rearranged gives 'tho'.
'tho' going into 'ame' is 'AT-HOME'.
(Other definitions for at home that I've seen before include "In (for a party?)" , "Familiar with" , "In one's own house" , "Reception in one's own abode" , "ready to receive visitors" .)