It can lark about these days with little advantage (6,9)
I believe the answer is:
carnal knowledge
'it' is the definition.
(both are euphemisms for sex)
'can lark about these days with little advantage' is the wordplay.
'about' is an anagram indicator.
'these days with' becomes 'nowl' (I can't explain this - if you can you should give a lot more credence to this answer).
'little advantage' becomes 'edge' (I've seen this in another clue).
'can'+'lark'='canlark'
'canlark' with letters rearranged gives 'carnalk'.
'carnalk'+'nowl'+'edge'='CARNAL KNOWLEDGE'
Can you help me to learn more?
(Another definition for carnal knowledge that I've seen is " It".)