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It's all very fine to accept ties as payments! (5)

Ross

I believe the answer is:

royal

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If this is the answer I cannot explain how the clue works.

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(Other definitions for royal that I've seen before include "What we may get used for individual" , "One of Queen's family" , "August" , "Regal, majestic," , "like The Grand Old Duke of York, perhaps" .)

I've seen this clue in the Evening Standard.
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