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yes you will need an MOT and Tax, plus obviously Insurance. Gumtree and Autotrader are good places to look, and you should be able to find something suitable that will come with an MOT and Tax already.You are right with regards to changing the owner, this is indeed free. Parking at Westminster I beleive is currently £1 per day for motorcycles, tho I do beleive its cheaper by the month.Hope this helps