Warm the milk and oil in a saucepan over a low heat until lukewarm, then pour into a jug and sprinkle over the yeast. Allow to sit for 5 - 10 minutes.
Meanwhile sift together the dry ingredients and mix well to combine. Make a well in the centre and pour the yeast mixture into the well, stirring all the time, until everything is incorporated. You are aiming for a slightly sticky dough.
Flour a work surface lightly and turn the dough out on to it. Knead for 4 - 5 minutes until you have a smooth dough. Place in a lightly oiled bowl and cover with clingfilm, then set aside for 1 - 2 hours, or until doubled in size.
When doubled in size, turn the dough out and knead for 30 seconds to knock out the air, then cut into 8 equal pieces. Roll the pieces of dough into balls and place on a lined baking sheet, covering with lightly oiled clingfilm and set aside for 30 minutes until the balls of dough have doubled in size.
When ready to fry, heat the oil to 180C and fry the buns in batches for about 6 minutes or until a deep golden colour. Take out and drain on kitchen paper.
When ready to serve, split the buns with a bread knife and fill with a ball of ice cream. Pour over some caramel sauce and finish with a sprinkle of sea salt flakes.