diff --git a/CHANGELOG.md b/CHANGELOG.md
index 5e4f613a..5150c69a 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,9 +1,14 @@
 # Changelog
 
-## Unreleased
+## 5.0.0-beta.1 - 2024-03-10
 
-## Removed
+### Added
+- Added Craft 5 compatibility
+
+### Removed
+- Removed Craft 4 compatibility
 - Removed the `neoblocks_owners` table; the Craft 5 `elements_owners` table is used instead
+- Removed the `neoblocks.deletedWithOwner` column; the Craft 5 `elements.deletedWithOwner` column is used instead
 - Removed `benf\neo\models\Settings::$enableLazyLoadingNewBlocks`; new blocks are now always lazy loaded
 - Removed `benf\neo\services\Blocks::renderTabs()`
 
diff --git a/composer.json b/composer.json
index 3228bdd1..639031cd 100644
--- a/composer.json
+++ b/composer.json
@@ -1,7 +1,7 @@
 {
   "name": "spicyweb/craft-neo",
   "description": "A Matrix-like field type that uses existing fields",
-  "version": "4.0.7",
+  "version": "5.0.0-beta.1",
   "type": "craft-plugin",
   "keywords": [
     "cms",
@@ -21,8 +21,8 @@
   "support": {
     "issues": "https://github.com/spicywebau/craft-neo/issues",
     "source": "https://github.com/spicywebau/craft-neo",
-    "docs": "https://github.com/spicywebau/craft-neo/blob/4.0.7/README.md",
-    "rss": "https://github.com/spicywebau/craft-neo/commits/4.x.atom"
+    "docs": "https://github.com/spicywebau/craft-neo/blob/5.0.0-beta.1/README.md",
+    "rss": "https://github.com/spicywebau/craft-neo/commits/5.x.atom"
   },
   "require": {
     "craftcms/cms": "^5.0.0-beta.1",
@@ -43,8 +43,8 @@
     "name": "Neo",
     "schemaVersion": "4.0.0",
     "class": "benf\\neo\\Plugin",
-    "changelogUrl": "https://github.com/spicywebau/craft-neo/blob/4.x/CHANGELOG.md",
-    "downloadUrl": "https://github.com/spicywebau/craft-neo/archive/refs/tags/4.0.7.zip"
+    "changelogUrl": "https://github.com/spicywebau/craft-neo/blob/5.x/CHANGELOG.md",
+    "downloadUrl": "https://github.com/spicywebau/craft-neo/archive/refs/tags/5.0.0-beta.1.zip"
   },
   "config": {
     "allow-plugins": {
diff --git a/docs/installation.md b/docs/installation.md
index a07156d3..6dfe2176 100644
--- a/docs/installation.md
+++ b/docs/installation.md
@@ -15,10 +15,7 @@ composer require spicyweb/craft-neo
 ## Requirements
 
 ### Craft version
-Neo requires Craft CMS 4.0.0 or later.
-
-### PHP version
-Neo has the same PHP version requirement as Craft CMS 4.0.0: PHP 8.0.2 or later.
+Neo 5 requires Craft CMS 5.
 
 ### Browser support
-Neo supports the same [browsers and versions that Craft CMS 4.0.0 supports](https://craftcms.com/docs/4.x/requirements.html#control-panel-browser-requirements). While Neo may work on browsers outside of those listed, this list is what Neo explicitly supports. The best option is to use an up-to-date major browser.
+Neo supports the same [browsers and versions that Craft CMS 5 supports](https://craftcms.com/docs/5.x/requirements.html#control-panel-browser-requirements). While Neo may work on browsers outside of those listed, this list is what Neo explicitly supports. The best option is to use an up-to-date major browser.
diff --git a/package.json b/package.json
index 556bf4db..5f4047b3 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "name": "craft-neo",
-  "version": "4.0.7",
+  "version": "5.0.0-beta.1",
   "description": "A Matrix-like field type that uses existing fields",
   "main": "webpack.config.js",
   "scripts": {