Last, when everything is taken into account (5,3)
I believe the answer is:
after all
'last' is the definition.
(coming after everyone else)
'everything is taken into account' is the wordplay.
I cannot really see how this works, but
'everything' could be 'all' (all things) and 'all' is found within the answer.
The remaining letters 'after' is a valid word which might be clued in a way I don't see.
This explanation may well be incorrect...
'when' acts as a link.
Can you help me to learn more?
(Other definitions for after all that I've seen before include "in the final reckoning?" , "Taking everything into account" , "Behind from start to finish" , "anyway" , "Despite expectations to the contrary" .)