diff --git a/.bumpversion.cfg b/.bumpversion.cfg
index 8a9c5a72..514fc428 100644
--- a/.bumpversion.cfg
+++ b/.bumpversion.cfg
@@ -1,5 +1,5 @@
 [bumpversion]
-current_version = 0.3.7
+current_version = 0.4.0
 commit = False
 tag = False
 parse = (?P<major>\d+)\.(?P<minor>\d+)\.(?P<patch>\d+)
diff --git a/CHANGELOG.md b/CHANGELOG.md
index d985eda4..56440a9a 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -17,6 +17,21 @@ and this project adheres to [semantic versioning](https://semver.org/spec/v2.0.0
 
 ### Removed
 
+## [0.4.0] - 2024-11-21
+
+### Added
+
+### Changed
+- Unpinned `pandas` version in `setup.cfg` to allow for more flexibility 
+  in dependency management.
+- Removed `numpy` from `setup.cfg` as it will be installed automatically by `pandas`.
+
+### Deprecated
+
+### Fixed
+
+### Removed
+
 ## [v0.3.7] - 2024-11-20
 
 ### Added
@@ -447,6 +462,8 @@ and this project adheres to [semantic versioning](https://semver.org/spec/v2.0.0
 > and GitHub Releases.
 
 
+- rdsa-utils v0.4.0: [GitHub Release](https://github.com/ONSdigital/rdsa-utils/releases/tag/v0.4.0) | 
+  [PyPI](https://pypi.org/project/rdsa-utils/0.4.0/)
 - rdsa-utils v0.3.7: [GitHub Release](https://github.com/ONSdigital/rdsa-utils/releases/tag/v0.3.7) | 
   [PyPI](https://pypi.org/project/rdsa-utils/0.3.7/)
 - rdsa-utils v0.3.6: [GitHub Release](https://github.com/ONSdigital/rdsa-utils/releases/tag/v0.3.6) | 
diff --git a/rdsa_utils/__init__.py b/rdsa_utils/__init__.py
index 8879c6c7..6a9beea8 100644
--- a/rdsa_utils/__init__.py
+++ b/rdsa_utils/__init__.py
@@ -1 +1 @@
-__version__ = "0.3.7"
+__version__ = "0.4.0"
diff --git a/setup.cfg b/setup.cfg
index c076ee92..4121088f 100644
--- a/setup.cfg
+++ b/setup.cfg
@@ -23,8 +23,7 @@ install_requires =
     cloudpathlib[gs]>=0.15.1
     humanfriendly>=9.1
     more-itertools>=9.0.0
-    pandas==1.5.3
-    numpy==1.24.4 # Temporarily pin numpy due to https://github.com/numpy/numpy/issues/26710
+    pandas
     pydantic>=2.6.2
     pyyaml>=6.0.1
     tomli>=2.0.1