Cryptic crossword clue
Firm hosting wife in island steps on board 12

The most common and most likely answer to this crossword clue is the 12 letter word COMPANIONWAY

I've seen this crossword clue in The Times
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Buddy explains!

The straight part
We know that "steps on board" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case steps on board = companionway.
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 COMPANIONWAY mean?

COMPANIONWAY noun
  1. A staircase or ladder from one deck to another on a ship

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