I solved the problem, with thank to @vikas. Rather than try to assign a generic tool tip I have assigned an individual tool tip for each point.
int points = 0;
//For every row in the values table, plot the date against the variable value
foreach (DataRow row in Values.Rows)
{
myChart.Series[Variable].Points.AddXY(Convert.ToDateTime(row["Date"].ToString()), row["Variable"].ToString());
myChart.Series[Variable].Points[points].ToolTip = Variable + " = #VALY \r\nDate = #VALX{d} \r\nSerial = " + row["Serial"].ToString();
points += 1;
}
So the counter starts at 0 then for every row in the datatable Values 1 is added to the number of points and a Unique ToolTip is assigned for each point individually.