Ground Wire?

Well, I hope this isn’t a stupid question but this looks different from any previous car I’ve had. Which one of these wires needs to be yellow-taped?

Both would be my suggestion. In the event of a marshal needing to ‘cut’ the power then they would need to cut both to isolate the battery.

Sounds sensible. Thanks.

Yes both. Neither strap looks healthy to me, I would change them.