Beat butter and sugar at medium speed with an electric mixer until fluffy. Add eggs, 1 at a time, beating until blended after each addition.
Combine flour, baking powder, and salt; add to butter mixture alternately with milk, beginning and ending with flour mixture. Beat at low speed after each addition. Stir in vanilla. Pour batter into 2 greased and floured 8" round cake pans.
Bake at 350° for 26 to 28 minutes or until a wooden pick inserted in center comes out clean. Cool in pans on wire racks 10 minutes; remove from pans, and cool completely on wire racks. Wrap and chill cake layers at least 1 hour or up to 24 hours. (This step enables you to split layers with ease.)
Using a serrated knife, slice cake layers in half horizontally to make 4 layers. Place 1 layer on a cake plate. Spread with 1/2 cup Whipped Cream Caramel Frosting. Repeat procedure with remaining 3 layers. Frost sides and top of cake with remaining frosting. Decorate cake with broken toffee bars and chocolate-covered almonds. Store in refrigerator.
Fix It Faster: This impressive cake also works well as a 2-layer cake if you don't want to split the layers. You'll have some frosting leftover, but that was okay with us!
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