Play about church money (7)
I believe the answer is:
drachma
'money' is the definition.
(I know that Drachma is a type of money)
'play about church' is the wordplay.
'play' becomes 'drama' (synonyms).
'about' is an insertion indicator.
'church' becomes 'ch' (common abbreviation).
'drama' placed around 'ch' is 'DRACHMA'.
(Other definitions for drachma that I've seen before include "Formerly the basic unit of money in Greece" , "ready" , "Former unit of money in Greece" , "Old Greek currency" , "Money no longer available" .)