Preheat oven to 350 degrees F. Line a muffin tin with cupcake liners. Set aside.

Prepare dry ingredients by sifting flour, baking powder, baking soda, salt, ground cinnamon, ground ginger, ground nutmeg and allspice in a large bowl. Keep aside.

In the bowl of a stand mixer fitted with a paddle attachment, beat butter until smooth and creamy. Add brown sugar and beat until combined.

Add the egg and beat, followed by adding molasses.

Add the dry ingredients in two batches, alternating with milk and beat until they combine well and the batter turns out smooth. The consistency of the batter is thick.

Spoon the batter into the cupcake liners, filling them a little over half way full.

Bake in the oven for 22-24 minutes until a toothpick inserted in the center comes out clean. Allow it to cool completely before frosting.

In a large mixing bowl, beat butter and cream cheese until fluffy. Slowly add powdered sugar and vanilla extract, beat until smooth.

Transfer the frosting to a piping bag and decorate the cupcakes as desired.

You may store any leftover frosting in the refrigerator and bring it to room temperature before using it again.