The most common and most likely answer to this crossword clue is the 7 letter word TOPSIDE
I've seen this crossword clue in Financial Times
T
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More clues leading to the result TOPSIDE
Buddy explains!

The straight part
We know that "Cut" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case cut = topside.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does TOPSIDE mean?
TOPSIDE noun- The side or part of something that is at the top.
- The surface of a ship’s hull that is above the water line.
- The structure and assembly of modules above the jacket or gravity base sub structure.
- The structure and assembly of modules on the deck of any floating installation.
- The outer side of a round of beef.
- Above decks, such as on the weather deck or bridge.