It's all very fine to accept ties as payments! (5)
I believe the answer is:
royal
If this is the answer I cannot explain how the clue works.
Can you help me to learn more?
(Other definitions for royal that I've seen before include "What we may get used for individual" , "One of Queen's family" , "August" , "Regal, majestic," , "like The Grand Old Duke of York, perhaps" .)