In a medium bowl, whisk together flour, baking powder, baking soda, salt and nutmeg.
In a large bowl cream butter and sugar until light and fluffy, 2-3 minutes. Add eggs one at a time, beating between each addition and scraping down the sides of the bowl. Beat in buttermilk and vanilla.
Slowly beat in the flour mixture until just smooth. Divide dough in half, shape it into circles and wrap in plastic. Refrigerate for at least one hour.
Preheat oven to 375℉ and line baking sheets with silicone baking mats or parchment paper.
Sprinkle a flat surface with flour. Roll out one disk to ¼-inch thickness. Cut with a 1½ inch biscuit cutter. Place circles on baking sheet 1 inch apart. Repeat with remaining disk.
Bake at 375℉ until lightly browned, about 8-10 minutes.. Cool for 1 minute on the pan then move to a cooling rack to cool completely.