California is an expensive place to own a vehicle and drive. All-in while the IRS allows 62.5 cents per mile I'd wager anyone driving a PRESENTABLE work vehicle will be losing money on that deal after depreciation, insurance, registration, taxes, fuel and maintenance are calculated. We do have the choice of collecting receipts and claiming the total or using the mileage formula and keeping a log/journal with odometer readings at each stop. Either way it's a freaking hassle but the good part is it forces the independent contractor to realize how much that cuts into profits.
I'm not aware of the immigration situation in the UK and how it might affect tradesmen competing for wages. In Southern California we are pretty much Ground Zero------one of the epicenters for illegal immigrants pouring into our country. They will often pass through on their way to the rest of the country looking for work if they've got a destination (job waiting with family). Otherwise they'll scratch around here taking and and everything that comes their way. Funny thing though with inflation even the illegal aliens sitting around Home Depot waiting for work now have a "minimum wage" of around $15 plus you gotta buy them lunch-------so I'm hearing. I haven't actually hired one aside from one day around 20 years ago I needed a guy to help finish a job on a Sunday when my helper no-showed.
I ask about the hours in the day because depending on whether you've worked a thousand hours to earn the $115K or more like two thousand hours is pretty significant. My hours were always accounted for daily/weekly/monthly/quarterly/annually. 2000 hours is basically a year-------50 weeks times 40 hours.
That's how union guys look at it----------counting up and logging those hours for the pension plus health coverage.
You WILL have to pay your own health insurance as an independent contractor. You're not going to like that monthly bill. Put that into the equation for sure.