A late starter taking many parcels out (6)
I believe the answer is:
allots
'parcels out' is the definition.
(allotting is a kind of parcelling out)
'a late starter taking many' is the wordplay.
'starter' indicates taking the first letters.
'taking' is a charade indicator (letters next to each other).
'many' becomes 'lots' (lots of something).
The initial letter of 'late' is 'l'.
'a'+'l'+'lots'='ALLOTS'
(Other definitions for allots that I've seen before include "Allows to have" , "Distributes, gives as share" , "Apportions or assigns" , "Gives, apportions" , "Dispenses or distributes" .)