Were you ever with BT?. It seems that its a part of their dial-up software.
From another forum:
"BTwebcontrol is part of your dial up software, the only reason you anti virus is showing it up is because it's classed as a dialler. It is not a virus and should not be causing you any problems".
As you are now with Virgin, I would say you could remove it, or, if you are in any doubt, quarantine it.