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In a large bowl, whisk together the cream, mascarpone, half the sherry, 3/ 4 of the zest and the icing sugar until the mixture is floppy and just holds its shape.
Cut the pandoro horizontally into five slices. Put the bottom piece on a serving plate or cake stand and drizzle over a little of the remaining sherry. Spoon over a quarter of the cream mixture and top with a handful of the almonds (saving enough for each layer and to decorate the top). Add the next layer of pandoro and continue to sandwich the layers together, rotating each at a different angle so that you create the shape of a Christmas tree.
Dust with icing sugar, then dot over the gold leaf (if using) along with the remaining almonds and orange zest.