A close friend of Peter Jackson, he and his company created all of the props, costumes, prosthetics, miniatures and weaponry for Jackson's epic Lord of the Rings trilogy. For his work on the three films, he has shared in winning three Academy Awards. Taylor can be seen and heard on all of the Lord of the Rings DVDs, in behind-the-scenes documentaries and on the audio commentaries on the extended edition DVDs. He even seems to have directed some of the trilogy's fight scenes. In one of the many descriptive follow-up art-guides to the films, namely Chris Smith's Weapons and Warfare, Richard Taylor wrote the introduction to the book along with Daniel Falconer.
He had a cameo with Peter Jackson and other crew members in The Return of the King Special Extended Edition, as a Corsair pirate.
Later, Taylor was also part of the special effects and art departments for the Battle for Middle-earth games.