In Britain most people would not know the phrase “let’s go Dutch”. I assume most people who speak English as their second language would not be familiar with this either. Everyone would understand let’s split the bill so it would be a better phrase to use.

*What is the difference between... One thing to note: I've never said, "Let's go Dutch." I also don't know anybody else who's ever said it. I've only ever heard, "Let's split the check/bill." It's very natural and will be understood by everybody. If you're trying to say, "Each pay their own way," just say that. "Let's each pay our own share." (For reference: I'm in my 30s from the northeastern US.)

In US English, they mean basically the same thing. One possible difference: “go Dutch” might imply that each person pays his or her own share of the bill (which might not be 50/50, if one person ordered more expensive food), while “split the bill” more strongly implies an even 50/50 split.