Received with thanks, boy (5)
I believe the answer is:
taken
'received' is the definition.
(taking is a kind of receiving)
'with thanks boy' is the wordplay.
'with' says to put letters next to each other.
'thanks' becomes 'ta' (UK informal version of 'thank you').
'boy' becomes 'ken' (**).
'ta' put next to 'ken' is 'TAKEN'.
(Other definitions for taken that I've seen before include "Charmed" , "Removed; occupied" , "Seized" , "Captured" , "Removed (from a place)" .)