Preheat your oven to 350°F (175°C). Line a muffin tin with cupcake liners.
In a bowl, sift together the flour, baking soda, salt, and cocoa powder. Set aside.
In another bowl, whisk together the sugar and vegetable oil until well combined.
Add the egg, buttermilk, food coloring, vinegar, and vanilla extract to the sugar and oil mixture. Mix until smooth.
Slowly incorporate the dry ingredients into the wet ingredients, mixing until just combined. Be careful not to overmix, as this can lead to tough cupcakes.
Divide the batter evenly among the cupcake liners, filling each about 2/3 full.
Bake in the preheated oven for 18-20 minutes or until a toothpick inserted into the center of a cupcake comes out clean.
While the cupcakes cool, prepare the cream cheese frosting. In a mixing bowl, beat the softened cream cheese and butter until creamy and smooth. Gradually add the powdered sugar and vanilla extract, mixing until well combined.
Once the cupcakes have cooled completely, frost them generously with the cream cheese frosting. You can use a piping bag or simply spread it on with a spatula.
Decorate your red velvet cupcakes with a sprinkle of red velvet cake crumbs or a few chocolate shavings for an extra touch of choccy magic.