Returning at one, grants the use of the last bits (4,4)
I believe the answer is:
tail ends
'last bits' is the definition.
'returning at one grants the use of' is the wordplay.
'returning' says the letters should be written in reverse.
'one' becomes 'i' (Roman numeral).
'grants the use of' becomes 'lends' (I've seen this in another clue).
'at' backwards is 'ta'.
'ta'+'i'+'lends'='TAIL-ENDS'
'the' is the link.
I've seen this clue in the Sydney Morning Herald.
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