Ring before tax is charged and receive praise (7)
I believe the answer is:
ovation
'praise' is the definition.
(as in a standing ovation)
'ring before tax is charged' is the wordplay.
'ring' becomes 'O' (O is the shape of a ring).
'before' means one lot of letters go next to another.
'tax' becomes 'VAT' (Value-Added Tax).
'is charged' becomes 'ion' (I've seen this in other clues).
'o'+'vat'+'ion'='OVATION'
'and receive' acts as a link.
I am not very happy about this link. Some or all of it may be part of another bit of the clue.
Can you help me to learn more?
(Other definitions for ovation that I've seen before include "enthusiastic response" , "Burst of applause" , "Great outburst of applause" , "Some will stand for it" , "Sustained applause (may be standing)" .)