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bengreen-
Basically, what @thross said.
Plus:
If the forks are full carbon, it all works in exactly the same way. You just substitute starnut with the bung/plug, then what @thross said.
Whether it's an alu steerer or carbon, it's a quick job, so the cost isn't much more than a tonne of spacers would be (less than if you got carbon spacers).
jakjakjak
For cutting the steerer? Speak to Matt or @jakjakjak in Dandy, or get some pipe cutters and do it yourself if you're feeling brave