Time runs out – it's the end of the line (8)
I believe the answer is:
terminus
'the end of the line' is the definition.
(I've seen this in another clue)
'time runs out' is the wordplay.
'out' indicates an anagram (out can mean wrong or inaccurate).
'time'+'runs'='timeruns'
'timeruns' is an anagram of 'TERMINUS'.
'it's' is the link.
(Other definitions for terminus that I've seen before include "Destination point" , "final point" , "Victoria, perhaps" , "End of the line for tram or bus" , "Transport depot" .)