Preheat the oven to 325 degrees F (165 degrees C).

Make the crust: Stir together graham cracker crumbs and sugar in a small bowl. Mix in melted butter until well combined. Press mixture into the bottom of a 9-inch springform pan. Cover the outside of the pan with foil to make it waterproof.

Make the filling: Beat cream cheese and sugar in a large bowl until smooth and creamy. Stir in lemon juice and vanilla with a spatula, scraping the bottom of the bowl occasionally to prevent lumps. Add eggs one at a time, beating well after each addition. Fold in toffee bits. Pour batter onto the crust.

Place the foil-covered pan into a larger cake pan (or any pan with at least 1-inch tall sides). Place both pans into the preheated oven; fill the larger, outer pan with water to create a water bath.

Bake for 45 minutes. Check the water bath and refill if necessary; continue to bake for 15 more minutes. Turn the oven off and leave the door closed with cheesecake inside for 1 hour.

Remove from the oven and remove the inner pan from the water bath. Chill cheesecake in the refrigerator for at least 4 hours before removing from the springform pan.