This article describes and critically examines the challenging task of compiling The London–Lund Corpus 2 (LLC–2) from start to end, accounting for the methodological decisions made in each stage and highlighting the innovations. LLC–2 is a half-a-million-word corpus of contemporary spoken British English with recordings from 2014 to 2019. Its size and design are the same as those of the world's first machine-readable spoken corpus, The London–Lund Corpus of Spoken English with data from the 1950s to 1980s. In this way, LLC–2 allows not only for synchronic investigations of contemporary speech but also for principled diachronic research of spoken language across time. Each stage of the compilation of LLC–2 posed its own challenges, ranging from the design of the corpus, the recruitment of the speakers, transcription, markup and annotation procedures, to the release of the corpus to the international research community. The decisions and solutions represent state-of-the-art practices of spoken corpus compilation with important innovations that enhance the value of LLC–2 for spoken corpus research, such as the availability of both the transcriptions and the corresponding time-aligned audio files in a standard compliant format.