PaddingLabel is a subclass of UILabel that allows you to specify internal padding. Specially useful for labels with background color or/and border.

PaddingLabel.swift

class PaddingLabel: UILabel {
    var padding: UIEdgeInsets {
        didSet {
            invalidateIntrinsicContentSize()
        }
    }
    
    public required init(padding: UIEdgeInsets = .zero) {
        self.padding = padding
        super.init(frame: CGRect.zero)
    }
    
    public override init(frame: CGRect) {
        padding = .zero
        super.init(frame: frame)
    }
    
    public required init?(coder aDecoder: NSCoder) {
        padding = .zero
        super.init(coder: aDecoder)
    }
    
    public override func drawText(in rect: CGRect) {
        super.drawText(in: rect.inset(by: padding))
    }
    
    public override var intrinsicContentSize: CGSize {
        let superContentSize = super.intrinsicContentSize
        let width = superContentSize.width + padding.left + padding.right
        let heigth = superContentSize.height + padding.top + padding.bottom
        return CGSize(width: width, height: heigth)
    }
    
    public override func sizeThatFits(_ size: CGSize) -> CGSize {
        let superSizeThatFits = super.sizeThatFits(size)
        let width = superSizeThatFits.width + padding.left + padding.right
        let heigth = superSizeThatFits.height + padding.top + padding.bottom
        return CGSize(width: width, height: heigth)
    }
    
    public override func textRect(forBounds bounds: CGRect, limitedToNumberOfLines numberOfLines: Int) -> CGRect {
        let insetRect = bounds.inset(by: padding)
        let textRect = super.textRect(forBounds: insetRect, limitedToNumberOfLines: numberOfLines)
        let invertedInsets = UIEdgeInsets(
            top: -padding.top,
            left: -padding.left,
            bottom: -padding.bottom,
            right: -padding.right
        )
        return textRect.inset(by: invertedInsets)
    }
}

Example: