diff --git a/CHANGELOG.md b/CHANGELOG.md
index 3fcf353..99542e5 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,6 +2,14 @@
 
 Releases before 0.7.0 are recorded in the git history.
 
+## 0.7.2
+
+### Fixed
+
+- `scoring.neutral_contribution` now neutralizes the rank-Gaussianized meta model
+  as well as the predictions before orthogonalizing. Predictions identical to
+  the meta model now have zero neutral contribution, up to floating-point precision.
+
 ## 0.7.1
 
 ### Added
diff --git a/README.md b/README.md
index dd9ae18..3f4b839 100644
--- a/README.md
+++ b/README.md
@@ -17,7 +17,9 @@ pip install numerai-tools
     does not re-rank and re-power the predictions after neutralizing them.
   - `neutral_contribution` is `correlation_contribution` with that
     same neutralization step inserted after the rank/gaussianize step. It
-    neutralizes the submissions only; pass a meta model that is already neutral.
+    neutralizes both the submissions and the meta model against the same
+    neutralizers before orthogonalizing. Predictions identical to the meta model
+    have zero neutral contribution, up to floating-point precision.
 
 - The `submissions.py` module provides helper functions to ensure your submissions are valid and formatted correctly. Use this in your automated prediction pipelines to ensure uploads don't fail.
 
diff --git a/RELEASING.md b/RELEASING.md
index 9582eb2..b6535c0 100644
--- a/RELEASING.md
+++ b/RELEASING.md
@@ -201,9 +201,8 @@ attempt that will fail on a duplicate version.
 and nothing else in the tree hardcodes it, so `[project] version` is the single
 place to edit. CI reads it with `tomllib`, not a regex.
 
-**There is no CHANGELOG.md.** numerapi's flow includes a changelog edit at each
-version bump; this repo has never had one, and the release notes live in the PR
-title and `README.md`. Adding one is optional and not assumed anywhere above.
+**Update `CHANGELOG.md` when bumping the version.** Record the release's changes
+under the matching version heading.
 
 **The PyPI secret is `PYPI_API_KEY`**, as in numerai-cli, not `PYPI_API_TOKEN`
 as in numerapi. Publishing uses `poetry publish --build` — it is the path this
diff --git a/numerai_tools/scoring.py b/numerai_tools/scoring.py
index fadb397..9e2b85a 100644
--- a/numerai_tools/scoring.py
+++ b/numerai_tools/scoring.py
@@ -405,20 +405,21 @@ def neutral_contribution(
 ) -> pd.Series:
     """Calculate how much the given predictions contribute to the given
     Meta Model's correlation with the target, after neutralizing the
-    predictions against the given neutralizers.
+    predictions and meta model against the given neutralizers.
 
     This is correlation_contribution with a neutralization step inserted
     after the rank/gaussianize step:
     1. tie-kept ranking each prediction and the meta model
     2. gaussianizing each prediction and the meta model
-    3. neutralizing each prediction wrt the neutralizers
-    4. orthogonalizing each prediction wrt the meta model
+    3. neutralizing each prediction and the meta model wrt the neutralizers
+    4. orthogonalizing each neutralized prediction wrt the neutralized meta model
     5. dot product the orthogonalized predictions and the targets
        then normalize by the length of the target (equivalent to covariance)
 
-    The meta model is **not** neutralized: this score is defined against an
-    already-neutral meta model (the Signals v3NUSWMM), so neutralizing it again
-    would be a no-op. Pass an already-neutral meta model.
+    Both predictions and the meta model are neutralized after rank/gaussianize,
+    which can reintroduce neutralizer exposure even for an already-neutral input.
+    Identical predictions and meta model therefore have zero contribution,
+    up to floating-point precision.
 
     No 1.5 power is applied to the predictions or the targets, and no variance
     normalization is applied to either: dividing each prediction by its own
@@ -427,7 +428,7 @@ def neutral_contribution(
 
     Arguments:
         predictions: pd.DataFrame - the predictions to evaluate
-        meta_model: pd.Series - the already-neutral meta model to evaluate against
+        meta_model: pd.Series - the meta model to evaluate against
         neutralizers: pd.DataFrame - the neutralizer data with features as columns
         live_targets: pd.Series - the live targets to evaluate against
         top_bottom: Optional[int] - the number of top and bottom predictions to use
@@ -444,9 +445,11 @@ def neutral_contribution(
     )
 
     # rank and normalize meta model and predictions so mean=0 and std=1,
-    # then neutralize the predictions wrt the neutralizers
+    # then neutralize both wrt the same neutralizers
     p = neutralize(gaussian(tie_kept_rank(predictions)), neutralizers).values
-    m = gaussian(tie_kept_rank(meta_model.to_frame())).iloc[:, 0].values
+    m = neutralize(
+        gaussian(tie_kept_rank(meta_model.to_frame())), neutralizers
+    ).iloc[:, 0].values
 
     # orthogonalize predictions wrt meta model
     neutral_preds = orthogonalize(p, cast(np.ndarray, m))
diff --git a/pyproject.toml b/pyproject.toml
index ed67573..9d7ed08 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -1,6 +1,7 @@
 [project]
 name = "numerai-tools"
-version = "0.7.1"
+version = "0.7.2"
+
 
 description = "A collection of open-source tools to help interact with Numerai, model data, and automate submissions."
 authors = [
diff --git a/tests/test_scoring.py b/tests/test_scoring.py
index b350b5e..d1a3d28 100644
--- a/tests/test_scoring.py
+++ b/tests/test_scoring.py
@@ -435,43 +435,53 @@ def test_neutral_contribution(self):
         predictions, neutralizers, meta_model, targets = neutral_fixture()
         np.testing.assert_allclose(
             neutral_contribution(predictions, meta_model, neutralizers, targets),
-            [0.008166920268846335, 0.056287525943196595, -0.1465734703333085],
+            [0.0076186790250345705, 0.05538415279085515, -0.1464960350754568],
         )
         np.testing.assert_allclose(
             neutral_contribution(
                 predictions, meta_model, neutralizers, targets, top_bottom=20
             ),
-            [0.014212728439240246, 0.07892827246673215, -0.13904192918920918],
+            [0.013225166729302146, 0.09427407739360479, -0.1390320473771724],
         )
 
-    def test_neutral_contribution_does_not_neutralize_meta_model(self):
-        # RESOLVED (T-803): the meta model passed in is the v3NUSWMM, which is
-        # already neutral, so only the submissions are neutralized. This test
-        # fails if the meta model is neutralized inside the function.
+    def test_neutral_contribution_neutralizes_meta_model(self):
         predictions, neutralizers, meta_model, targets = neutral_fixture()
-        scores = neutral_contribution(predictions, meta_model, neutralizers, targets)
         neutral_preds = neutralize(
             gaussian(tie_kept_rank(predictions)), neutralizers
         ).values
-        raw_mm = gaussian(tie_kept_rank(meta_model.to_frame()))[meta_model.name]
-        neutralized_mm = neutralize(raw_mm.to_frame(), neutralizers)[meta_model.name]
-        np.testing.assert_allclose(
-            scores,
-            contribution_scores(
-                orthogonalize(neutral_preds, raw_mm.values),
-                targets.copy(),
-                predictions,
-            ),
-        )
-        assert not np.allclose(
-            scores,
-            contribution_scores(
-                orthogonalize(neutral_preds, neutralized_mm.values),
-                targets.copy(),
-                predictions,
-            ),
-            atol=1e-6,
-        )
+        neutral_mm = neutralize(
+            gaussian(tie_kept_rank(meta_model.to_frame())), neutralizers
+        ).iloc[:, 0].values
+        for top_bottom in (None, 20):
+            with self.subTest(top_bottom=top_bottom):
+                np.testing.assert_allclose(
+                    neutral_contribution(
+                        predictions, meta_model, neutralizers, targets, top_bottom
+                    ),
+                    contribution_scores(
+                        orthogonalize(neutral_preds, neutral_mm),
+                        targets,
+                        predictions,
+                        top_bottom,
+                    ),
+                )
+
+    def test_neutral_contribution_identical_predictions(self):
+        predictions, neutralizers, _, targets = neutral_fixture()
+        # Cover different neutralizer exposures and ties, with multiple columns
+        # scored together so matching the meta model is a per-column property.
+        predictions["tied"] = predictions["mixed"].round(1)
+        for column in predictions:
+            for top_bottom in (None, 20):
+                with self.subTest(column=column, top_bottom=top_bottom):
+                    scores = neutral_contribution(
+                        predictions,
+                        predictions[column],
+                        neutralizers,
+                        targets,
+                        top_bottom,
+                    )
+                    np.testing.assert_allclose(scores[column], 0.0, atol=1e-12)
 
     def test_neutral_contribution_no_variance_normalize(self):
         # variance normalizing the neutralized predictions divides each score by
@@ -479,11 +489,13 @@ def test_neutral_contribution_no_variance_normalize(self):
         # contribution to predictions that were mostly neutralizer exposure.
         predictions, neutralizers, meta_model, targets = neutral_fixture()
         neutral_preds = neutralize(gaussian(tie_kept_rank(predictions)), neutralizers)
-        raw_mm = gaussian(tie_kept_rank(meta_model.to_frame()))[meta_model.name]
+        neutral_mm = neutralize(
+            gaussian(tie_kept_rank(meta_model.to_frame())), neutralizers
+        ).iloc[:, 0]
         assert not np.allclose(
             neutral_contribution(predictions, meta_model, neutralizers, targets),
             contribution_scores(
-                orthogonalize(variance_normalize(neutral_preds).values, raw_mm.values),
+                orthogonalize(variance_normalize(neutral_preds).values, neutral_mm.values),
                 targets.copy(),
                 predictions,
             ),