This study aims to review and highlight the important modelling methodologies used for studying carbon nanotubes (CNTs) and their composites. Understanding appropriate modelling methods for specific applications is crucial as CNTs become integral in achieving lighter, multifunctional composite structures. This paper explores a range of techniques, including finite element modelling (FEM), Molecular Dynamics (MD), Molecular Structural Mechanics (MSM), as well as nonlocal models, and the Cauchy-Born (CB) rule. Emphasis is placed on factors such as interphase effects between CNTs and the matrix, bonding interactions, non-bonded van der Waals (vdW) forces, and dynamic behaviour. Multiscale modelling is extensively discussed as a pivotal approach for efficiently addressing various length scales in nanocomposites. Modelling of failure, damage and its propagation, delamination, and instabilities such as buckling and fracture have been highlighted, and research gaps have been pointed out.