The most common and most likely answer to this crossword clue is the 8 letter word RENOUNCE
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More clues leading to the result RENOUNCE
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 = renounce.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 RENOUNCE mean?
RENOUNCE noun- An act of renouncing.
- To give up, resign, surrender, atsake.
- To cast off, repudiate.
- To decline further association with someone or something, disown.
- To abandon, forsake, discontinue (an action, habit, intention, etc), sometimes by open declaration.
- To make a renunciation of something.
- To surrender formally some right or trust.
- To fail to follow suit; playing a card of a different suit when having no card of the suit led.