AFAIK Sky do not cut you off or charge extra, but if you're using more than you should then they will send you a message suggesting you upgrade.
Also, it's a good idea to get yourself a download meter to keep an idea, as Sky don't offer online tracking right now.
This is from Sky's T&Cs
Quote:
USAGE CAPS
Broadband
If you subscribe to a Product that has a cap on the amount of data that you download or
upload each month (“Usage Capâ€Â), your usage must not exceed that Usage Cap each month.
For the current Usage Caps on each Product, please go to www.sky.com/broadband.
If you exceed your Usage Cap, we will contact you by email to let you know that you have
done so.
If your usage continues to exceed your Usage Cap, we will continue to contact you by email
to ask you to reduce your usage immediately. If after a reasonable period of time your usage
still exceeds your Usage Cap, then we may do one or more of the following things by notice in
writing:
(a) charge you fair and reasonable costs for your usage (and any reasonable
administration costs) in excess of your Usage Cap;
(b) change your subscription to a Product with a higher Usage Cap, in which case we
would also notify you of the new price you will be charged;
(c) suspend your use of Sky Broadband for the relevant month; or
8
(d) end your Contract in accordance with Condition 11 of your Contract.
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So it looks like you get a warning, but if you continue to be a naughty boy then they can do what they like!