$C^{\ast }$ -algebras of labelled graphs III— 
 $K$ -theory computationsPublished online by Cambridge University Press: 06 October 2015
In this paper we give a formula for the  
 $K$ -theory of the  
 $C^{\ast }$ -algebra of a weakly left-resolving labelled space. This is done by realizing the  
 $C^{\ast }$ -algebra of a weakly left-resolving labelled space as the Cuntz–Pimsner algebra of a  
 $C^{\ast }$ -correspondence. As a corollary, we obtain a gauge-invariant uniqueness theorem for the  
 $C^{\ast }$ -algebra of any weakly left-resolving labelled space. In order to achieve this, we must modify the definition of the  
 $C^{\ast }$ -algebra of a weakly left-resolving labelled space. We also establish strong connections between the various classes of  
 $C^{\ast }$ -algebras that are associated with shift spaces and labelled graph algebras. Hence, by computing the  
 $K$ -theory of a labelled graph algebra, we are providing a common framework for computing the  
 $K$ -theory of graph algebras, ultragraph algebras, Exel–Laca algebras, Matsumoto algebras and the  
 $C^{\ast }$ -algebras of Carlsen. We provide an inductive limit approach for computing the  
 $K$ -groups of an important class of labelled graph algebras, and give examples.