Alter round afterwards (5)
I believe the answer is:
later
'afterwards' is the definition.
(I know that afterwards can be written as later)
'alter round' is the wordplay.
'round' is an anagram indicator.
'alter' with letters rearranged gives 'LATER'.
(Other definitions for later that I've seen before include "goodbye" , "At a subsequent time" , "More recent" , "behind schedule" , "Not just yet" .)