There has been a ban on leisure travellers from the UK entering Spain since 22nd December but now that is due to be lifted imminently. You can - from 00:00 24th May - legally enter Spain to holiday. It has been legal to depart much of the UK for leisure purposes internationally since 17th May.
More to follow on entry to Spain.
For your return to the UK, Spain and all of its islands are considered 'amber'. Despite ministers telling the public not to travel on holiday to 'amber' territories, this is merely advice and not illegal. The red-amber-green rating is really only appropriate for your return to the UK.
The Foreign, Commonwealth and Development Office (FCDO) doesn't advice against non-essential travel to the Canary Islands. This is the advice tour operators use. The UK's largest tour operator, Tui, is shortly beginning its holiday schedule to the Canaries.
The requirements to return to the UK are an antigen test 72 hours before departure, and then two pre-booked PCR tests on days 2 and 8 of a 10 day quarantine period. You can reduce your quarantine period with a negative "test to release" on day 5. For links to testing suppliers click here.
Whilst these requirements are onerous, this is great news for those that need to enter Lanzarote urgently, property owners or those who are able to easily self-isolate on their return.
Search for rental villas and apartments here.
There's a review into the green-amber-red status of countries in early June. The vaccination programme is ramping up across Spain, which will only help the case to be on the 'green' list.