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Let B = A[[t;σ,δ]] be a skew power series ring such that σ is given by an inner automorphism of B. We show that a certain Waldhausen localisation sequence involving the K-theory of B splits into short split exact sequences. In the case that A is noetherian we show that this sequence is given by the localisation sequence for a left denominator set S in B. If B = ℤp[[G]] happens to be the Iwasawa algebra of a p-adic Lie group G ≅ H ⋊ ℤp, this set S is Venjakob's canonical Ore set. In particular, our result implies that
is split exact for each n ≥ 0. We also prove the corresponding result for the localisation of ℤp[[G]][
] with respect to the Ore set S*. Both sequences play a major role in non-commutative Iwasawa theory.
