A well-known ansatz ('trace method') for soliton solutions turns the equations of the (non-commutative) KP hierarchy, and those of certain extensions, into families of algebraic sum identities. We develop an algebraic formalism, in particular involving a (mixable) shuffle product, to explore their structure. More precisely, we show that the equations of the non-commutative KP hierarchy and its extension (xncKP) in the case of a Moyal-deformed product, as derived in previous work, correspond to identities in this algebra. Furthermore, the Moyal product is replaced by a more general associative product. This leads to a new even more general extension of the non-commutative KP hierarchy. Relations with Rota-Baxter algebras are established.