Preheat the oven to gas mark 4 or 180°C (350°F)
In a small bowl mix the flour, baking powder and salt together until well combined
In another bowl cream together the butter and sugar for 5 minutes until there are no visible grains of sugar
Add the vegetable oil the whisk for another 2-3 minutes until pale and fluffy
Add the eggs one at a time, fully incorporating after each addition
Add the vanilla extract, vinegar, cocoa powder, and red food colouring and whisk until well combined (see note 1)
Alternate between adding the flour mixture and buttermilk, beginning with the flour and ending with the flour, then whisk until well combined (see note 2)
Line the cupcake tray with cases then transfer the batter evenly into each one
Bake in the centre of the oven for 15 minutes until a toothpick inserted in the centre of the cupcake comes out clean
Cool in the tin for 5 minutes then remove and allow to cool completely on a wire rack whilst the frosting is prepared
In a bowl beat the butter for 5 minutes until pale and creamy
Add the icing sugar in gradually and whisk until there are no grains visible
Add the vanilla extract and beat for 5 minutes to ensure that everything is well incorporated
Add the cream cheese and beat until smooth and the frosting has reached your desired consistency
Transfer the frosting into a piping bag then pipe on to the cooled cupcakes (see note 3)
Your red velvet cupcakes with cream cheese frosting are ready!