Preheat the oven to 350 deggress F. With a stand or hand mixer, beat sugar and butter on medium-high speed until combined and fluffy- about 3 minutes. Be sure to stop in between to scrape down the sides of the bowl.
Add eggs in one at a time, stiring in between each egg. Add in vanilla extract and beat until combined.
In a medium bowl, whisk together flour, baking powder, baking soda, and nutmeg. Gradually add 1/2 cup of flour mixture at a time to the butter mixture alternating with 1/4 cup of buttermilk at a time. Beat together on low speed until each increment is combined.
Grease a bundt pan liberally with butter or nonstick baking spray. Spoon the cake batter into prepared bundt pan and be sure to firmly tap the bundt pan on the counter 4-6 times to release any air bubbles.
Bake the cake for 50-55 minutes depending on your oven. To check to see if the cake is fully cooked, insert a toothpick in the center of the cake. If it comes out clean, the cake is fully cooked. Let the cake cool in pan on a wire rack for 10 minutes.
While the cake is still cooling, carefully and gently invert cake out of pan on a serving platter. Sine the cake is still warm, some of the icing will absorb into the cake.
Line foil pieces around the cake by gently lifing the outter perimeter of the bundt cake to insert foil underneath- the foil only needs to be touching the edge. I use about four 5-6 inch pieces of foil to go around the whole cake. This will catch any excess glaze that drips off the cake.
Whisk together powdered sugar and heavy cream until smooth. Add more powdered sugar if the glaze is too watery. Drizzle the glaze over the cake and let sit to set for 15-20 minutes. Remove the foil and enjoy!