Preheat oven to 350ºF and line muffin pans with cupcake liners.
Whisk together soy milk and vinegar and set aside to curdle (about 5 - 10 minutes).
Sift together the flour, sugar, cocoa, baking powder, baking soda, and salt into a large bowl and mix.
Add the oil, food colouring, and vanilla extract to the curdled soy milk. Whisk well to combine.
Add the dry ingredients into the wet and fold to combine, mixing just until large lumps disappear.
Fill cupcake liners about two-thirds full.
Place in preheated oven and bake 18 to 20 minutes, but be sure not to overbake.
When done, let cool for a few minutes then transfer cupcakes to a cooling rack to cool completely.
- For the frosting
Cream together the margarine and vegan cream cheese just until combined.
Gradually add sugar, about half a cup at a time, until mixed well (I used a hand mixer).
Add the vanilla and mix until light and fluffy.