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Welcome to this user forum.
In order to find out what services and speed range you should be getting, please enter your phone number into this form.
Broadband availability checker
Please remember to edit out your phone number before you post the results.
If you have a BT Home Hub 6 (Smart Hub)
Please use this link to display the Smart hub (HH6) connection information
You will need to be connected to your home hub to do this/
You would not be able to cancel because of speed issues, unless the connection speed is consistently lower than the minimum guaranteed speed, as specified when you started the contract.
There is no reason why your connection speed should be lower than 55Mbs.
Can you please provide the connection information from the home hub, as requested?
DLM (Dynamic Line Management) has reduced your connection speed to 40Mbs. This usually happens if there has been a line fault, or you have been restarting or disconnecting the home hub.
Is there any noise on your phone calls? Dial 17070 and select option 2, there should be no noise between the announcements.
BT cannot reset DLM, as its controlled by Openreach, however if you leave things alone, with no restarts or disconnections, then DLM should eventually increase the connection speed.
Give it a couple of weeks, if it does not improve, the you would have to report it as a fault, and Openreach would arrange a visit, and reset DLM, once they were sure there was not a fault on the line.
That is what this forum is for. Your question is a very common one, and there are plenty of people on this forum who can help.
It you have no noise on the phone line, just leave every thing alone, no restarts or disconnections, and things should eventually recover, as described on my web page link.