I have looked in most places and can't find how to set these up. Most editors have standard Ctrl-B for bold etc. which inserts the tabs around the selected text. Is there anywhere these can be implemented?

Thanks in advance
Andy.

PhpED is not a word processor like WordPad or Ms Word.

PhpED does change font style taking into account what php, html or other text you type and what styles you have assigned for particular elements like variables, strings, reserved words etc. See Tools->Settings->Syntax Colors.