A method of preparing a yeast fermented beverage, said method comprising the steps of: a. fermenting wort with a biologically active yeast to produce a fermented liquid containing yeast, alcohol, polyphenols and protein; b. optionally removing yeast from the fermented liquid; c. mixing the fermented liquid with polyvinylpolypyrrolidone (PVPP) particles to bind at least a fraction of the polyphenols and/or the proteins contained in the fermented liquid to said PVPP particles, at least 80 wt.% of said PVPP particles having a diameter in the range of 5-150 μm; d. filtering the fermented liquid containing the PVPP particles over a first membrane filter having a pore size in the range of 0.1-5 μm without employing a filter aid to produce a clarified fermented liquid and a first retentate containing PVPP particles; e. combining the first retentate with an aqueous regeneration liquid to desorb polyphenols and/or protein from the PVPP particles, said aqueous regeneration liquid having a pH of at least 10.0; f. filtering the combination of first retentate and regeneration liquid over a second membrane filter having a pore size in the range of 0.1-10 μm without employing a filter aid to produce a second retentate containing regenerated PVPP particles; and g. after optional further refining of the regenerated PVPP particles contained in the second retentate, recirculating the regenerated PVPP particles to step c; wherein macromolecular components contained in the first retentate of step d. and/or retained on the second filter of step f., are degraded using a degradative agent capable of degrading proteins and/or polyphenols, said degradative agent being selected from oxidants, enzymes and combinations thereof. a. fermenting wort with a biologically active yeast to produce a fermented liquid containing yeast, alcohol, polyphenols and protein; b. optionally removing yeast from the fermented liquid; c. mixing the fermented liquid with polyvinylpolypyrrolidone (PVPP) particles to bind at least a fraction of the polyphenols and/or the proteins contained in the fermented liquid to said PVPP particles, at least 80 wt.% of said PVPP particles having a diameter in the range of 5-150 μm; d. filtering the fermented liquid containing the PVPP particles over a first membrane filter having a pore size in the range of 0.1-5 μm without employing a filter aid to produce a clarified fermented liquid and a first retentate containing PVPP particles; e. combining the first retentate with an aqueous regeneration liquid to desorb polyphenols and/or protein from the PVPP particles, said aqueous regeneration liquid having a pH of at least 10.0; f. filtering the combination of first retentate and regeneration liquid over a second membrane filter having a pore size in the range of 0.1-10 μm without employing a filter aid to produce a second retentate containing regenerated PVPP particles; and g. after optional further refining of the regenerated PVPP particles contained in the second retentate, recirculating the regenerated PVPP particles to step c; wherein macromolecular components contained in the first retentate of step d. and/or retained on the second filter of step f., are degraded using a degradative agent capable of degrading proteins and/or polyphenols, said degradative agent being selected from oxidants, enzymes and combinations thereof.