Yep, a VPN is a Virtual Private Network and provides your computers with a UK IP address (Your computer’s equivalent of a UK telephone number)
Once you connect your PCs to the Internet via a UK based VPN you will be able to access UK Catch Up and Live Streaming TV Channels such as BBC Iplayer, ITV Player etc. You also have the option to subscribe to a U.S. IP address that will allow you to watch similar channels based in the U.S.A.
We use VPNUK (http://www.vpnuk.net). It costs us £9 per month for 2 x concurrent connections. For example this allows me to watch the footie on my laptop connected to the television whilst the wife watches Strictly Come Dancing on another machine. Bliss!