Pockets and collars (5)
I believe the answer is:
nicks
'pockets' is the definition.
Although both the answer and definition are verbs in their -s form, I cannot understand how one could define the other.
'and collars' is the wordplay.
'and' becomes 'n' (common abbreviation for 'and').
'collars' becomes 'icks' (I can't explain this - if you can you should believe this answer much more).
'n'+'icks'='NICKS'
Can you help me to learn more?
(Other definitions for nicks that I've seen before include "Catches" , "chips" , "Slangily steals or notches" , "Notches - arrests" , "Small cuts" .)