diff --git a/CHANGELOG.md b/CHANGELOG.md
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,2 +1,7 @@
+# monad-time-0.3.1.0 (2018-04-09)
+* Restored compatibility with GHC versions < 7.10
+  ([#4](https://github.com/scrive/monad-time/issues/4)).
+
 # monad-time-0.3.0.0 (2018-04-03)
-* Added a MonadTime instance for ReaderT UTCTime (#2).
+* Added a MonadTime instance for ReaderT UTCTime
+  ([#2](https://github.com/scrive/monad-time/pull/2)).
diff --git a/monad-time.cabal b/monad-time.cabal
--- a/monad-time.cabal
+++ b/monad-time.cabal
@@ -1,5 +1,5 @@
 name:                monad-time
-version:             0.3.0.0
+version:             0.3.1.0
 synopsis:            Type class for monads which carry
                      the notion of the current time.
 description:         'MonadTime' type class for monads
diff --git a/src/Control/Monad/Time.hs b/src/Control/Monad/Time.hs
--- a/src/Control/Monad/Time.hs
+++ b/src/Control/Monad/Time.hs
@@ -1,4 +1,9 @@
-{-# LANGUAGE FlexibleContexts, FlexibleInstances, UndecidableInstances #-}
+{-# LANGUAGE CPP, FlexibleContexts, FlexibleInstances, UndecidableInstances #-}
+
+#if __GLASGOW_HASKELL__ < 710
+{-# LANGUAGE OverlappingInstances #-}
+#endif
+
 module Control.Monad.Time (MonadTime(..)) where
 
 import Control.Monad.Trans
@@ -13,6 +18,10 @@
 instance MonadTime IO where
   currentTime = getCurrentTime
 
+-- | This is @ReaderT UTCTime@ on purpose, to avoid breaking
+-- downstream.
+--
+-- @since 0.3.0.0
 instance {-# OVERLAPPING #-} Monad m => MonadTime (ReaderT UTCTime m) where
   currentTime = ask
 
diff --git a/test/Main.hs b/test/Main.hs
--- a/test/Main.hs
+++ b/test/Main.hs
@@ -2,6 +2,7 @@
 
 import Control.Monad.Reader
 import Control.Monad.State
+import Data.Time.Clock
 
 import Control.Monad.Time
 
@@ -11,3 +12,6 @@
   -- Test that generic MonadTrans instance works.
   runReaderT currentTime 'x' >>= print
   evalStateT (runReaderT currentTime 'x') 'y' >>= print
+  -- Test that ReaderT UTCTime instance works
+  now <- getCurrentTime
+  runReaderT currentTime now >>= print