Zimmermann's Forest Formula, Infrared Divergences and the QCD Beta Function

We review Zimmermann's forest formula, which solves Bogoliubov's recursive $R$-operation for the subtraction of ultraviolet divergences in perturbative Quantum Field Theory. We further discuss a generalisation of the $R$-operation which subtracts besides ultraviolet also Euclidean infrared divergences. This generalisation, which goes under the name of the $R^*$-operation, can be used efficiently to compute renormalisation constants. We will discuss several results obtained by this method with focus on the QCD beta function at five loops as well as the application to hadronic Higgs boson decay rates at N${}^4$LO. This article summarizes a talk given at the Wolfhart Zimmermann Memorial Symposium.