Nomad and socialist returning, having split (7)
I believe the answer is:
drifter
'nomad' is the definition.
(I've seen this before)
'socialist returning having split' is the wordplay.
'socialist' becomes 'red' (red can informally mean a socialist).
'returning' says the letters should be written in reverse.
'having' indicates putting letters inside.
'split' becomes 'rift' (I've seen this in other clues).
'red' in reverse letter order is 'der'.
'der' placed around 'rift' is 'DRIFTER'.
'and' is the link.
(Other definitions for drifter that I've seen before include "Itinerant type" , "Person of no fixed abode" , "Vagabond" , "Fishing boat; wanderer" , "Fishing boat; hobo" .)