Do you have broadband? Is it full fibre to the premises??
We have fibre built to the house which our internet is connected to the fibre wall box
As long as you have full fibre to the premises and are not using your copper line for anything I don't see a problem cutting out that socket.
So i can just cut it and it won’t electrocute me and do i need to tape up the ends or anything or can i just leave it?
You can just cut it. If its still connected to the exchange, there is only 50 Volts on it so its harmless.