Tale of a hill in the outskirts of Surrey (5)
I believe the answer is:
story
'tale' is the definition.
(synonyms)
'a hill in the outskirts of surrey' is the wordplay.
'a hill' becomes 'tor' (tor is a kind of hill).
'in the' is an insertion indicator.
'outskirts of' says to hollow out the word (remove centre letters) (only letters on the outskirts).
'surrey' with its centre removed is 'sy'.
'tor' going into 'sy' is 'STORY'.
'of' acts as a link.
(Other definitions for story that I've seen before include "Account, tale" , "Anecdote" , "Narration" , "See 10 and 19" , "Narrative or account" .)