Of course it's not. One year KT Tunstall was on it while simultaneously headlining Princes St Gardens at midnight! It's recorded in June or something.
I don't know why it has to be not live and also so excruciating - Later with JH isn't a bad show, the hogmanay version could be live and a really good alternative to Jackie Bird, but it's awful. (I actually love Jackie and her clavicles, but the show is pants.) We just spend the evening flipping between the two, alternating with running outside and craning our necks to spot fireworks.