This paper addresses the problem of compensating for lateral chromatic aberration in digital images through colour plane realignment. Two main contributions are made: the derivation of a model for lateral chromatic aberration in images, and the subsequent calibration of this model from a single view of a chess pattern. These advances lead to a practical and accurate alternative for the compensation of lateral chromatic aberrations. Experimental results validate the proposed models and calibration algorithm. The effects of colour channel correlations resulting from the camera colour filter array interpolation is examined and found to have a negligible magnitude relative to the chromatic aberration. Results with real data show how the removal of lateral chromatic aberration significantly improves the colour quality of the image.