Take a look at this post
As for the html, just use an expression bound to the text property of the label like:
"<html>" + {<your string type property>}
I don't bother with closing html tags anymore unless I need to limit the scope
You can also use the html tag or
to otherwise format text after a html tag for text alignment etc. in addition to the wrapping you get from the "conversion" to html, although it sounds like you might already be familiar with this.