In a medium bowl, whisk together the flour, baking powder, nutmeg, cinnamon, sugar and salt. In a separate large bowl, whisk together the egg and buttermilk and then whisk the egg mixture into the flour mixture just until combined.

Slice the apples into 1/4-inch-thick rounds. Using the cookie cutters, cut each apple slice into rings, discarding the center core.

Add 3 inches of oil to a large heavy-bottomed pot set over medium heat. Line a sheet tray with paper towels.

When the oil reaches 350°F on your deep-fry thermometer, begin by dipping each apple slice in the batter, shaking off any excess then carefully lowering it into the oil. Add several apple slices to the oil but do not overcrowd the pot. Flip the apple slices occasionally so that they brown on all sides then using tongs, transfer them onto the paper towel-lined baking sheet. Repeat the battering and frying process with the remaining apple rings.

Serve the apple rings immediately with caramel sauce for dipping.

You can coat the fried apple rings in cinnamon and sugar rather than serve them with caramel sauce.

It's important to shake off as much excess batter as possible to ensure the apple rings fry quickly.

The moisture in the apples results in the apple rings having a soft, pancake-like texture rather than a crunch.