The Canaries are not in the Fiscal EU. We don't have VAT, but we have low customs limits, we have to import even our own already-owned belongings. Those customs limits mean there's a very low amount of cash that can be transported legally. Look on the UK gov website for the allowances outside the EU - they're the same as here - 1 litre spirits, 250 cigarettes, and I imagine it will say the cash limit too.
In some respects we're regarded as a tax haven, though that doesn't seem to prevent me having huge tax bills. I would be very wary of doing anything that might be regarded as 'fiscally shady'.
If it is for a house purchase, contact Sabadell. They have special arrangements fora large transfer if you're taking their house insurance. It can be cancelled after a year.