Preheat oven to 325°F (165°C) and grease and flour a Bundt or tube pan.
Whisk flour, baking powder, and salt in a bowl.
Beat butter, brown sugar, and granulated sugar until light and fluffy.
Add eggs one at a time, mixing well after each addition.
Stir in vanilla extract.
Alternate adding flour mixture and milk, beginning and ending with flour.
Pour batter into prepared pan and smooth top.
Bake 70–80 minutes until a toothpick inserted comes out clean.
Cool in pan 15 minutes, then transfer to wire rack.
For glaze, melt butter in saucepan, stir in brown sugar and cream, simmer 2–3 minutes, remove from heat, add vanilla and salt.
Pour warm caramel glaze over cooled cake.