diff --git a/Makefile b/Makefile
index c150fadc3..832a61ed7 100644
--- a/Makefile
+++ b/Makefile
@@ -7,24 +7,26 @@ RELEASE_TAG := $(shell git tag -l --points-at HEAD)
 VERSION := $(shell cat VERSION)
 # Last tag on this branch
 LAST_TAG := $(shell git describe --tags --abbrev=0)
+# Next version
+NEXT_VERSION := $(shell echo $(VERSION) | perl -lpe 's/v//; $$_ += 0.01; $$_ = sprintf("v%.2f.0", $$_)')
 # If we are working on a release, override branch to master
 ifdef RELEASE_TAG
 	BRANCH := master
+	LAST_TAG := $(shell git describe --abbrev=0 --tags $(VERSION)^)
 endif
-TAG_BRANCH := -$(BRANCH)
-BRANCH_PATH := branch/
+TAG_BRANCH := .$(BRANCH)
+BRANCH_PATH := branch/$(BRANCH)/
 # If building HEAD or master then unset TAG_BRANCH and BRANCH_PATH
 ifeq ($(subst HEAD,,$(subst master,,$(BRANCH))),)
 	TAG_BRANCH :=
 	BRANCH_PATH :=
 endif
-# Make version suffix -DDD-gCCCCCCCC (D=commits since last relase, C=Commit) or blank
-VERSION_SUFFIX := $(shell git describe --abbrev=8 --tags | perl -lpe 's/^v\d+\.\d+\.\d+//; s/^-(\d+)/"-".sprintf("%03d",$$1)/e;')
-# TAG is current version + number of commits since last release + branch
+# Make version suffix -beta.NNNN.CCCCCCCC (N=Commit number, C=Commit)
+VERSION_SUFFIX := -beta.$(shell git rev-list --count HEAD).$(shell git show --no-patch --no-notes --pretty='%h' HEAD)
+# TAG is current version + commit number + commit + branch
 TAG := $(VERSION)$(VERSION_SUFFIX)$(TAG_BRANCH)
-NEXT_VERSION := $(shell echo $(VERSION) | perl -lpe 's/v//; $$_ += 0.01; $$_ = sprintf("v%.2f.0", $$_)')
-ifndef RELEASE_TAG
-	TAG := $(TAG)-beta
+ifdef RELEASE_TAG
+	TAG := $(RELEASE_TAG)
 endif
 GO_VERSION := $(shell go version)
 ifdef BETA_SUBDIR
@@ -56,7 +58,6 @@ vars:
 	@echo BRANCH="'$(BRANCH)'"
 	@echo TAG="'$(TAG)'"
 	@echo VERSION="'$(VERSION)'"
-	@echo NEXT_VERSION="'$(NEXT_VERSION)'"
 	@echo GO_VERSION="'$(GO_VERSION)'"
 	@echo BETA_URL="'$(BETA_URL)'"
 
@@ -220,25 +221,24 @@ fetch_binaries:
 serve:	website
 	cd docs && hugo server -v -w --disableFastRender
 
-tag:	doc
-	@echo "Old tag is $(VERSION)"
-	@echo "New tag is $(NEXT_VERSION)"
-	echo -e "package fs\n\n// Version of rclone\nvar Version = \"$(NEXT_VERSION)\"\n" | gofmt > fs/version.go
-	echo -n "$(NEXT_VERSION)" > docs/layouts/partials/version.html
-	echo "$(NEXT_VERSION)" > VERSION
-	git tag -s -m "Version $(NEXT_VERSION)" $(NEXT_VERSION)
-	bin/make_changelog.py $(LAST_TAG) $(NEXT_VERSION) > docs/content/changelog.md.new
+tag:	retag doc
+	bin/make_changelog.py $(LAST_TAG) $(VERSION) > docs/content/changelog.md.new
 	mv docs/content/changelog.md.new docs/content/changelog.md
 	@echo "Edit the new changelog in docs/content/changelog.md"
 	@echo "Then commit all the changes"
-	@echo git commit -m \"Version $(NEXT_VERSION)\" -a -v
+	@echo git commit -m \"Version $(VERSION)\" -a -v
 	@echo "And finally run make retag before make cross etc"
 
 retag:
+	@echo "Version is $(VERSION)"
 	git tag -f -s -m "Version $(VERSION)" $(VERSION)
 
 startdev:
-	echo -e "package fs\n\n// Version of rclone\nvar Version = \"$(VERSION)-DEV\"\n" | gofmt > fs/version.go
+	@echo "Version is $(VERSION)"
+	@echo "Next version is $(NEXT_VERSION)"
+	echo -e "package fs\n\n// Version of rclone\nvar Version = \"$(NEXT_VERSION)-DEV\"\n" | gofmt > fs/version.go
+	echo -n "$(NEXT_VERSION)" > docs/layouts/partials/version.html
+	echo "$(NEXT_VERSION)" > VERSION
 	git commit -m "Start $(VERSION)-DEV development" fs/version.go
 
 winzip:
diff --git a/RELEASE.md b/RELEASE.md
index 57bcef32f..eeb4d05aa 100644
--- a/RELEASE.md
+++ b/RELEASE.md
@@ -69,6 +69,8 @@ this will be done already.
 
 Now
 
+  * FIXME this is now broken with new semver layout - needs fixing
+  * FIXME the TAG=${NEW_TAG} shouldn't be necessary any more
   * git co ${BASE_TAG}-stable
   * git cherry-pick any fixes
   * Test (see above)
diff --git a/VERSION b/VERSION
index 5c77185a7..55274d266 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-v1.52.3
+v1.53.0
diff --git a/docs/content/downloads.md b/docs/content/downloads.md
index 5537cc0b1..43b42f38b 100644
--- a/docs/content/downloads.md
+++ b/docs/content/downloads.md
@@ -38,16 +38,25 @@ Beta releases
 [Beta releases](https://beta.rclone.org) are generated from each commit
 to master.  Note these are named like
 
-    {Version Tag}-{Commit Number}-g{Git Commit Hash}
+    {Version Tag}.beta.{Commit Number}.{Git Commit Hash}
 
-You can match the `Git Commit Hash` up with the [git
-log](https://github.com/rclone/rclone/commits/master).  The most recent
-release will have the largest `Version Tag` and `Commit Number` and
-will normally be at the end of the list.
+eg
+
+    v1.53.0-beta.4677.b657a2204
+
+The `Version Tag` is the version that the beta release will become
+when it is released. You can match the `Git Commit Hash` up with the
+[git log](https://github.com/rclone/rclone/commits/master).  The most
+recent release will have the largest `Version Tag` and `Commit Number`
+and will normally be at the end of the list.
 
 Some beta releases may have a branch name also:
 
-    {Version Tag}-{Commit Number}-g{Git Commit Hash}-{Branch Name}
+    {Version Tag}-beta.{Commit Number}.{Git Commit Hash}.{Branch Name}
+
+eg
+
+    v1.53.0-beta.4677.b657a2204.semver
 
 The presence of `Branch Name` indicates that this is a feature under
 development which will at some point be merged into the normal betas
diff --git a/docs/layouts/partials/version.html b/docs/layouts/partials/version.html
index 00c9d1281..55274d266 100644
--- a/docs/layouts/partials/version.html
+++ b/docs/layouts/partials/version.html
@@ -1 +1 @@
-v1.52.0
\ No newline at end of file
+v1.53.0