I visited Great Britain several years ago and used this expression, and got some blank looks. They got the gist of what I was saying, but had not heard the expression. One good British saying that expresses something of the same thing is that will "land you in the cart." This has a macabre background.
The idiom comes from the days of the plague when people pushing carts would go through the streets and cry, "Bring out your dead!" and people would toss the corpses on the cart to be buried or burned. Landing in "the cart," then, would be a bad thing. Love those British expressions!