[skyship007]

If you want to be a long term owner, do not listen to how anyone else except Mr Volvo does a main cam belt service. Some clowns only change the cam belt and in most cases when the cam belt has broken, it's the tensioner, aux belt or water pump that failed.

Pay particular attention to any torque settings, as it can result in some real trouble with water pumps and tensioners in particular.
If the water pump is a non OEM one (It will say Renault on the inside), or shows any signs of side or end float, it should be replaced and a new gasket is required.

If there are any signs of a cam shaft oil seal leak, it should be changed. If the car has be washed underneath on a regular basis, it can be difficult to see if it's leaking until the cover is off. The V40 diesels are not known for oil seal failures, but it's still good to check.
The pulley only needs removing to change the seal, which obviously complicates the timing situation.

I don't think that any of the bolts need locktight, but if they do (The EGR ones do), don;t think that just because you think it feels like it won't come loose, that you can ignore the instructions, or use the wrong type of thread locker.
Lower strength thread lockers are sometimes used to stop a hex bolt or machine screw corroding in and that can make the next change a real PITA.