Loot around tree (4)
I believe the answer is:
cash
'loot' is the definition.
(thesaurus)
'around tree' is the wordplay.
'around' becomes 'c' (abbreviation for 'circa').
'tree' becomes 'ash' (ash is a kind of tree).
'c'+'ash'='CASH'
(Other definitions for cash that I've seen before include "Wimbledon champion" , "Till" , "Funds" , "Brass" , "Hard currency" .)