What you have to appreciate Pete is that the Spanish authorities don't care about the UK part of the transaction, it means nothing to them. They will be interested in the documentary values of the property. Every house has a documented value, and this will be noted at the time of sale.

The whole thing about black money means that many houses seemed to be under declared in value to save taxes, and thats why this will look iffy to them as they have been trying to clamp down on it.