Thanks to all for the info, mine's a pukka paid for AVG so I won't be uninstalling and swopping to another ...
It sounds like you're their perfect customer!

Most people who have been sold a product that doesn't work would either ask for a fix or demand a refund, not persist just because they paid for it!
Seriously, I used AVG for a few years when it was released and it was very good, I recommended it to many people then. But once Windows built-in Defender became a viable alternative I have used nothing else since. I reinstalled AVG last week to check this problem and quickly verified that the product was at fault. Not only did it block TM-IMG, but it also prevented my email client from contacting any email servers, claiming they were unsafe. I removed it again so I could use email, and in doing so I noticed that it had deactivated Windows Defender without notification and left it deactivated, which I consider unacceptable. Based on this limited experience I wouldn't recommend AVG now.
As stated in earlier replies, there is no threat from TM-IMG. Report this to AVG and get your money back!