In the \textsc{Subset Feedback Vertex Set (Subset-FVS)} problem the input is a graph $G$, a subset \(T\) of vertices of \(G\) called the `terminal' vertices, and an integer $k$. The task is to determine whether there exists a subset of vertices of cardinality at most $k$ which together intersect all cycles which pass through the terminals. \textsc{Subset-FVS} generalizes several well studied problems including \textsc{Feedback Vertex Set} and \textsc{Multiway Cut}. This problem is known to be \NP-Complete even in split graphs. Cygan et al. proved that \textsc{Subset-FVS} is fixed parameter tractable (\FPT) in general graphs when parameterized by $k$ [SIAM J. Discrete Math (2013)]. In split graphs a simple observation reduces the problem to an equivalent instance of the $3$-\textsc{Hitting Set} problem with same solution size. This directly implies, for \textsc{Subset-FVS} \emph{restricted to split graphs}, (i) an \FPT algorithm which solves the problem in $\OhStar(2.076^k)$ time \footnote{The \(\OhStar()\) notation hides polynomial factors.}% for \textsc{Subset-FVS} in Chordal % Graphs [Wahlström, Ph.D. Thesis], and (ii) a kernel of size $\mathcal{O}(k^3)$. We improve both these results for \textsc{Subset-FVS} on split graphs; we derive (i) a kernel of size $\mathcal{O}(k^2)$ which is the best possible unless $\NP \subseteq \coNP/{\sf poly}$, and (ii) an algorithm which solves the problem in time $\mathcal{O}^*(2^k)$. Our algorithm, in fact, solves \textsc{Subset-FVS} on the more general class of \emph{chordal graphs}, also in $\mathcal{O}^*(2^k)$ time.