Yes, if you no longer require the web hosting service you are free to cancel it at anytime. Simply inform us via email at accounts@name2net.co.uk including your username for the account and your account will be downgraded to a parked / forwarding account.
Please note that when your account is downgraded that any of the web hosting services that you had set up will no longer work i.e. POP3mailboxes, MySQL databases etc..