The use by date on bacon and other meat is just a general guideline as to when it's best to eat the bacon or meat by that date for freshness.
Even when the bacon or meat is past it's use by date it can still be very good and safe to eat as long as the bacon or meat has been properly frozen during that time.
I sometimes stock up on bacon in the boxes and store them in my freezer for a year and sometimes 2 years before using all that bacon and it's still very good and safe to eat.
So yes you can eat the bacon past it's use by or sell by date as long as it's been frozen.
If the bacon smells bad or becomes very slimy then it is usually bad and needs thrown out but as long as it smells good and is not slimy in feeling then it's safe to eat.