I don't think you get capped at 40% here (Essex) - you just get whatever mark you achieve. However, that doesn't really matter, as for most subjects (except certain things like Accounting and Law) you can only resit exams in the first year anyway and the first-year results don't count towards your degree - all you need is 40% to pass, so in the end nobody cares whether you got 40% or 70% in your first-year exams. Second- and third-year exams cannot be resat (except in certain cases as mentioned above).