diff --git a/.bumpversion.cfg b/.bumpversion.cfg
index 22d69ac..56289f9 100644
--- a/.bumpversion.cfg
+++ b/.bumpversion.cfg
@@ -1,5 +1,5 @@
 [bumpversion]
-current_version = 0.4.6
+current_version = 0.5.0
 commit = True
 tag = True
 
diff --git a/annotation/__init__.py b/annotation/__init__.py
index 6d0cc3e..b426b68 100644
--- a/annotation/__init__.py
+++ b/annotation/__init__.py
@@ -7,7 +7,7 @@
 from Mikado.parsers import parser_factory
 from Mikado.transcripts import Gene, Transcript
 
-VERSION = '0.4.6'
+VERSION = '0.5.0'
 RUN_METADATA = "run_details.json"
 
 UTR_SELECTION_OPTIONS = ('gold', 'silver', 'bronze', 'all', 'hq_assembly', 'lq_assembly')
diff --git a/setup.py b/setup.py
index ea3111b..44fa924 100644
--- a/setup.py
+++ b/setup.py
@@ -6,7 +6,7 @@
 
 setup(
     name='reat',
-    version='0.4.6',
+    version='0.5.0',
     packages=find_packages('.', exclude=["tests"]),
     url='https://github.com/ei-corebioinformatics/reat',
     classifiers=[
diff --git a/singularity/build_image.sh b/singularity/build_image.sh
index c04542d..cd8f726 100644
--- a/singularity/build_image.sh
+++ b/singularity/build_image.sh
@@ -1,5 +1,5 @@
 set -euxo
-version=0.4.6
+version=0.5.0
 rundir=$(dirname "$(realpath "$0")")
 cd "$(mktemp -d)"
 cp "${rundir}"/reat_singularity.def reat.def