To everybody going round the island (5)
I believe the answer is:
atoll
'island' is the definition.
(I know that atoll is a type of island)
'to everybody going round' is the wordplay.
'everybody' becomes 'all' (all people).
'going round' is an insertion indicator (some letters go around others).
'to' placed into 'all' is 'ATOLL'.
'the' acts as a link.
(Other definitions for atoll that I've seen before include "Pacific coral island" , "Coral circle" , "Coral island surrounding a lagoon" , "Bikini, say" , "Circular coral reef" .)