Preheat the oven to 175C (345F) and line 2 x 8 inch (20cm) cake tins or 1 tall 7 inch cake with baking paper (line bottom and sides of tin).
In a medium sized bowl, sift flour, baking powder, baking soda and salt. Whisk to combine and set aside. In a small bowl, add the sugar and rub the lemon zest in with your finger tips until fragrant (- this helps release the oils of the zest into the sugar, enhancing the lemon flavour). Set aside.
In a larger bowl, beat butter (with a hand held mixer or stand mixer with paddle attachment) until creamy. Gradually add the lemon-sugar and continue beating until it is light in colour and fluffy in texture. With the mixer still on, slowly add the oil and continue beating until combined.
Add eggs and vanilla extract to the butter mixture and mix until just combined. Add half the flour mixture and using a spoon, fold about 5 times. Now add the lemon juice and ½ of the buttermilk and fold again. Add the rest of the flour along with the remaining half of the buttermilk and gently fold until combined.
Spoon the cake batter into the prepared cake tins and bake for 20-25 minutes (for 8 inch) or 1 hour for a tall 7 inch cake tin, or until a skewer comes out clean (or with a few loose crumbs). Leave to cool in cake tins for 5 minutes before inverting on a cooling rack.
Once completely cool, level the cakes/cut the cake into layers with a serrated knife. Place one cake on a cake board and using a off-set spatula, spread ½ cup of marscarpone lemon curd frosting on the cake, making sure the frosting is flat and even. Place the other cake on top and apply a crumb coat of frosting. Allow the crumb coat to set in the fridge for 10 minutes before applying the rest of the frosting. Decorate with lemon wedges/slices and/or pipe extra frosting on top if desired!