Concede it is a handout (5)
I believe the answer is:
grant
I believe this is a double definition.
'concede' is the first definition.
('grant' can be a synonym of 'concede')
'a handout' is the second definition.
(thesaurus)
'it is' is the link.
(Other definitions for grant that I've seen before include "Agree to - bursary" , "yield" , "Make" , "nominally associated with Ulysses?" , "Give (a right); gift" .)