Painter like Picasso, British, lives in style (6)
I believe the answer is:
cubist
'painter like picasso' is the definition.
(I've seen this before)
'british lives in style' is the wordplay.
'british' becomes 'b' (abbreviation e.g. in 'BBC').
'lives' becomes 'is' ('be' can be a synonym of 'live').
'in' means one lot of letters goes inside another.
'style' becomes 'cut' (cut is a kind of style**).
'b'+'is'='bis'
'bis' inserted into 'cut' is 'CUBIST'.
(Other definitions for cubist that I've seen before include "Braque, for one" , "Artist as Picasso, Braque" , "modern artist" , "kind of artist" , "Artist of geometrical figures" .)