Iodine applied to blood around new cut (6)
I believe the answer is:
ignore
'cut' is the definition.
('ignore' can be a synonym of 'cut')
'iodine applied to blood around new' is the wordplay.
'iodine' becomes 'i' (I is the chemical symbol for iodine).
'applied to' says to put letters next to each other.
'blood' becomes 'gore' ('gore' can be a synonym of 'blood'**).
'around' is an insertion indicator.
'new' becomes 'n'.
'gore' going around 'n' is 'gnore'.
'i'+'gnore'='IGNORE'
(Other definitions for ignore that I've seen before include "Deliberately overlook" , "Blank" , "Cut head off" , "Walk away from" , "Brush off" .)