Personal item providing a tax credit up front (6)
I believe the answer is:
cravat
'personal item' is the definition.
'a tax credit up front' is the wordplay.
'tax' becomes 'vat' (British sales tax).
'credit' becomes 'cr'.
'up front' says to put letters next to each other.
'a'+'vat'='avat'
'avat' after 'cr' is 'CRAVAT'.
'providing' acts as a link.
(Other definitions for cravat that I've seen before include "Menswear" , "Fine quality scarf" , "Neckcloth" , "Scarf worn instead of tie" , "Old-fashioned flowing tie (6)." .)