Cuts and shares out (6)
I believe the answer is:
shears
'cuts' is the definition.
(shearing is a kind of cutting)
'shares out' is the wordplay.
'out' indicates anagramming the letters (out can mean wrong or inaccurate).
'shares' anagrammed gives 'SHEARS'.
'and' is the link.
(Other definitions for shears that I've seen before include "Cutting tool, for hedges perhaps" , "Garden cutters" , "Hedge cutting tool" , "Fleeces sheep" , "Pruners" .)