Penny to pick up — take it (7)
I believe the answer is:
presume
'take it' is the definition.
(I've seen this before)
'penny to pick up' is the wordplay.
'penny' becomes 'p' (short for pence).
'to pick up' becomes 'resume' (I've seen this in another clue).
'p'+'resume'='PRESUME'
(Other definitions for presume that I've seen before include "Suppose without proof" , "Surmise" , "Suppose; take liberties" , "Supreme (anag)" , "Believe" .)