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As the domain is really old I don't want to trip any filters, but simply utilise it. At the moment it is 301ing the .com main page to .co.uk.
The simple solution is not to do it, but then there isn't much point me owning it. On the other hand, much of the traffic comes from google - so I don't want to risk losing all that.
Any tips from someone in the same position?
Why? If the .co.uk is doing fine then don't mess with it.... it will end in tears if you do.
If you want to put a new site onto the .com then fine, but I would avoid any duplication with the .co.uk.
Where is your target audience? If in the UK then you really want to keep the .co.uk as your prime site. If your .com is hosted outside of the UK you won't stand a chance of ranking well for 'UK sites only'.