diff --git a/CHANGES.rst b/CHANGES.rst
index 22b965faab0..024f8edaa16 100644
--- a/CHANGES.rst
+++ b/CHANGES.rst
@@ -1,3 +1,24 @@
+Release 8.1.2 (in development)
+==============================
+
+Dependencies
+------------
+
+Incompatible changes
+--------------------
+
+Deprecated
+----------
+
+Features added
+--------------
+
+Bugs fixed
+----------
+
+Testing
+-------
+
 Release 8.1.1 (released Oct 11, 2024)
 =====================================
 
diff --git a/sphinx/__init__.py b/sphinx/__init__.py
index 397b523f7e4..8aeed5c09fd 100644
--- a/sphinx/__init__.py
+++ b/sphinx/__init__.py
@@ -1,6 +1,6 @@
 """The Sphinx documentation toolchain."""
 
-__version__ = '8.1.1'
+__version__ = '8.1.2'
 __display_version__ = __version__  # used for command line version
 
 # Keep this file executable as-is in Python 3!
@@ -30,11 +30,11 @@
 #:
 #: .. versionadded:: 1.2
 #:    Before version 1.2, check the string ``sphinx.__version__``.
-version_info = (8, 1, 1, 'final', 0)
+version_info = (8, 1, 2, 'beta', 0)
 
 package_dir = os.path.abspath(os.path.dirname(__file__))
 
-_in_development = False
+_in_development = True
 if _in_development:
     # Only import subprocess if needed
     import subprocess