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It’s perfectly legal to stream TV shows and movies if you’re in the UK. This quote from an article on the Daily Mirror website sums it up “If you were to download an illegally copied file that would constitute copyright infringement. However, when you stream something online, the file is stored only temporarily on your computer - and temporary copies are exempt from copyright laws.” According to aTelegraph article no has ever been fined or even prosecuted for streaming movies or TV shows. If you’re downloading stuff then that’s illegal but the chances of you getting in trouble for it are really slim, it’s almost unheard of and it’s ridiculously hard to prove that a specific person downloaded something
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PlayboxHD is pretty much a BitTorrent client with video player, it just downloads the torrent in sequence while you're watching then deletes it once you've finished. I imagine it also seeds so you would be uploading the file for other people so you would also be distributing it. It's pretty much torrenting and ISP's don't see any difference. Again, the most they can do is send you a letter so there's not a lot to worry about.