The most common and most likely answer to this crossword clue is the 5 letter word RELAX
I've seen this crossword clue in The Daily Telegraph
R
E
L
A
X
More clues leading to the result RELAX
- Loose dog maybe nipping the Parisian
- . Army corps reportedly needs to ease off
- Needing to calm down, king takes note
- King swallows drop of Lemsip, catching a chill
- King welcomes the French moderate
- Final yard of race disposed of, put your feet up
- Ten bitter rivals initially wound up, calm down
- Become less rigid about the French vote
- Take it easy while king embraces the French female
- Even in Orwellian times, stay cool!
Buddy explains!

The straight part
We know that "Take it easy" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case take it easy = relax.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 RELAX mean?
RELAX verb- To calm down.
- To make something loose.
- To become loose.
- To make something less severe or tense.
- To become less severe or tense.
- To make something (such as codes and regulations) more lenient.
- (of codes and regulations) To become more lenient.
- To relieve (something) from stress.
- To relieve from constipation; to loosen; to open.