Understanding the Tenancy Deposit Cap Rules

My tenants Assured Shorthold Tenancy was first issued in November 2018 for a fixed term of 12 months. The Tenancy rolled on to a Statutory Periodic at the end of the fixed term. There has been no renewal of the Tenancy, except a Section 13 Notice proposing a Rent Increase.

The Deposit paid in 2018 and protected within 30 days was equivalent to 6.5 weeks of rent.

Since there has been no renewal of the Tenancy since the Deposit Cap came into force on 1 June 2019 (apart from Section 13 Notice), would I need to return any deposit over the five weeks' rent to the tenants?

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Deposits and Tenancy Deposit Schemes

Many landlords take a deposit from tenants to hold for the duration of the tenancy. When the tenant moves out, this is returned to the tenant less any deductions permitted: typically for damage (above fair wear and tear), additional cleaning, and cover any outstanding rent. Note: deposits can only be withheld if stipulated what the deposit is being held against in the contract.