A previous entry refusal to the UK does not carry any automatic ban from the Schengen area (to which the UK does not belong, incidentally). Even being refused entry by a Schengen country doesn't! So you won't be refused entry merely because of what happened in the UK.
But border guards have to evaluate whether you fulfil the requirements (which differ depending on your citizenship) each time you present yourself to the border and can decide to refuse entry if they deem that you are likely to disregard the conditions of your visit (e.g. by working or immigrating illegally). Your travel history and any earlier problem, even in a completely unrelated country, are part of this risk assessment and might prompt them to inquire a bit more closely.