[sputnik]

If you want a pedantic answer, the fact that it was a gift is of little relevance here in terms of whether it is taxable on disposal. As the OP says, he acquired it for nothing (his acquisition cost) and would be disposing of it for something, and so making a profit, or more accurately, a gain. More important is the fact that, assuming you are not in business selling bikes, income tax doesn't come into it. Capital Gains Tax could, were it not for the fact that a motorcycle is classed as a Chattel. Not only that, it is a machine, which means it is also classed as a wasting asset and so is exempt from Capital Gains Tax (assuming you haven't used it in business and claimed capital allowances).

Next week we'll take a look at Corporation Tax...